CITY OF INDUSTRY, California, June 7, 2017 /PRNewswire/ --
Sugarmade, Inc. (OTCQB:SGMD), today announces the signing of a supply agreement that consists accumulative of $3 million hydroponic supplies orders, which will be delivered over the coming 12-month period. As a result of these new orders, the new business to business website, www.CaliGrownSupplies.com, which launched last week, and other new product introductions, the Company is fulfilling its commitment to expand its business operations into the very fast growing hydroponic and growing supplies marketplace.
Mr. Jimmy Chan, CEO, commented, "This represents a major milestone for Sugarmade and a huge jumpstart into the new market segment. Our other business divisions are already producing strong results, so these new orders will be additive to our already growing level of success. We are expecting calendar 2017 to be a terrific year as we expand further into the market for hydroponic supplies. We are able to take on this new business as a result of our balance sheet restructuring, which is ongoing, and new working capital that has come into the Company. This has added a significant amount of flexibility to our business and will allow us to further expand our operations."
Under the terms of the twelve-month agreement, Sugarmade will manufacturer and distribute various hydroponic supplies, which will be placed into various retail and online sales venues.
About Sugarmade, Inc. (OTCQB:SGMD)
Sugarmade, Inc. is a product and brand marketing company investing in products and brands with disruptive potential. Sugarmade's brands include CaliGrownSupplies.com, CarryOutSupplies.com, FreeHand ThumbTray, and Sriracha Seasoning Stix, a revolutionary culinary seasoning product under official license from Irwindale, California- based Huy Fong Foods, Inc., the maker of Sriracha Hot Chili Sauce. For more information on the Company's products, please visit www.Sugarmade.com .
For inquiries please contact Jimmy Chan at +1-888-982-1628 or info@Sugarmade.com .
SOURCE Sugarmade, Inc.